SEC Tips l Ask Securities Lawyer 101

The Securities and Exchange Commission (“SEC”) frequently receives tips from whistlblowers. SEC tips from whistleblowers are provided in a variety of ways. The SEC tips are primarily received through the SEC’s online TCR form located at http://www.sec.gov/complaint.shtml or through direct contact with employees and staff at the SEC’s offices. Upon receipt of what’s called a Form TCR, SEC tips are reviewed by the SEC’s staff for reliability, detail and potential violations of the federal securities laws.

After the SEC’s review, information is generally processed according to the SEC’s guidelines below.

SEC Guidelines for Processing Complaints and Tips:

♦ SEC complaints and tips that appear to be serious and substantive are usually forwarded to staff in the home office or to the appropriate regional office for more detailed review;

♦ SEC complaints and tips that relate to an existing investigation are generally forwarded to the staff assigned to the existing matter;

♦ SEC complaints and tips that involve the specific expertise of another division or office within the SEC are typically forwarded to staff in that particular division or office for further analysis;

♦ SEC complaints and tips that fall within the jurisdiction of another federal or state agency are forwarded to the SEC contact at that agency; and

♦ SEC complaints and tips that relate to the private financial affairs of an investor or a discrete investor group are usually forwarded to the Office of Investor Education and Advocacy (“OIEA”).

To qualify for an award under the SEC’s Whistleblower Program under the Dodd-Frank Act, you must submit information regarding possible securities law violations to the SEC in one of the following ways: